JNR Resources Inc JNRRF

news release

[megphi]

The private placement was over-subscribed. I guess it's a good sign that so many people are willing to get involved in the non-flow-through portion of the pp considering the price is not too far off today's close and there is a 4 month hold. They must believe that the $0.31 warrant kicker is well worth it. JNR RESOURCES INC. P.O. Box 26061 Telephone: [phone] Saskatoon, Saskatchewan S7K 7H9 Facsimile: [phone] _____________________________________________________________________________________ N E W S R E L E A S E January 9, 2004 – JNR Resources Inc. (TSX.V: JNN) announces that its private placement announced on December 17, 2003 has been increased from 2,800,000 units to 3,284,000 units at a price of $0.25 per unit for total proceeds of $821,000. As previously announced, each unit will consist of one common share and one share purchase warrant entitling the holder thereof to acquire one additional common share of the Company for a period of two years at a price of $0.31 for the first year and $0.36 for the second year. Of the 3,284,000 units, 800,000 will be flow-through units. Toll Cross Securities Inc., of Toronto, Ontario, has agreed to assist with the sale of the 2,484,000 non-flow-through units. The Company has agreed to pay to Toll Cross Securities Inc. a cash commission of 5% of the proceeds raised by Toll Cross. The Company has also agreed to additional compensation of agent’s warrants equal to 10% of the number of units placed through Toll Cross, each warrant entitling Toll Cross to acquire one common share of the Company for a period of two years at a price of $0.31 for the first year and $0.36 for the second year. A portion of the net proceeds of this private placement will be used towards exploration on the Company’s uranium properties located in Saskatchewan, and potential acquisition and exploration of one or more gold properties, as currently under review. The balance of the net proceeds will be used for general working capital purposes. ON BEHALF OF THE BOARD Rick Kusmirski, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.